EnergyWatch

Billion-dollar impairment in Drilling strikes Maersk

Unemployed rigs and the decision to hand off the drilling division have resulted in a major impairment for Maersk Group. The group states that "a structural solution for Maersk Supply Service, remains to be defined" within the 12 months.

Maersk Group has announced that Maersk Drilling will be spun off, but the unit was not sold before booking a major impairment. So major, that it dragged the entire group into a deficit in the third quarter.

Due to the classification as a discontinuing activity in the financial report, along with multiple unemployed rigs, the division has taken an impairment of USD 1.75 billion. This helped drag down the bottom line for the whole group into a loss of USD 1.5 billion after tax.

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